Compass Minerals(CMP)2024-05-07 20:32Financial Performance - Sales for the three months ended March 31, 2024, were $364.0 million, a decrease from $411.1 million in the same period in 2023[97] - Gross profit for the six months ended March 31, 2024, was $143.5 million, down from $155.2 million in the same period in 2023[97] - Net loss for the six months ended March 31, 2024, was $123.1 million, compared to a net loss of $21.9 million in the same period in 2023[97] - Basic net loss per common share for the six months ended March 31, 2024, was $2.99, compared to $0.55 in the same period in 2023[97] Impairments and Valuation Adjustments - The company recognized impairments of $108.1 million and $182.9 million related to Fortress and Plant Nutrition for the three and six months ended March 31, 2024, respectively[96] - Corporate operating results were impacted by net gains of $24.3 million and $21.4 million related to the decline in the valuation of the Fortress contingent consideration for the three and six months ended March 31, 2024[96] Segment Performance - Sales to external customers for the Salt segment were $668.6 million for the six months ended March 31, 2023[101] - Operating earnings (loss) for the Corporate & Other segment were $(54.7) million for the six months ended March 31, 2023[101] - Depreciation, depletion, and amortization for the Plant Nutrition segment were $16.4 million for the six months ended March 31, 2023[101] Workforce and Leadership Changes - The company incurred net severance and related charges of $3.1 million and $5.6 million for the three and six months ended March 31, 2024, respectively, due to workforce reductions and executive leadership changes[96]